tecis Holding AG
Tecis Holding AG english
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Hamburg, October 1, 2001
commission income up by an above-average 46%
– gross margin of 45%
According to preliminary calculations, Group commission revenues in the first
nine months of the year rose by 22% to DM 98.7 million (previous year: DM 80.7
million). Net commission income, which is a far more reliable guide to business
performance, increased by 46% to DM 44.6 (30.6) million. Accordingly, the gross
margin widened to 45.2 (37.9) %. Net income surged by 47 % to DM 7.2 (4.9)
million. Earnings quality has improved substantially this year as non-
recurring interest income of DM 1.5 million was received in the third quarter
of the previous year. The Group is still on track to meeting earnings targets
for 2001.
tecis Finanzdienstleistungen AG, which focuses on private households, posted a
45% 1) increase in commission revenues in the first nine months of the year,
i.e. well in excess of the market average, and has been largely unaffected by
the current state of the financial markets. In the third quarter, the number of
representative offices rose by 16 (Q2: +10) to 135. This means that the Company
will meet or even exceed its target of 140 representative offices this year.
Sustained high growth in private-customer consulting business is also reflected
in the increase in sales of occupational disability insurance policies (which
more than doubled), insurance-fund-based life insurance policies (up over 50%),
investment savings schemes (up 30%) and private health insurance (up almost
100%).
The current weakness of the financial markets is solely leaving traces on the
business of the fairly small subsidiaries tecis Maklerservice AG and tecis
Asset Management AG, which make only a relatively small contribution to
consolidated earnings and whose revenues dropped to DM 15.3 (23.7) million and
DM 2.7 (4.4) million respectively. As a result, tecis Maklerservice AG has
fallen short of targets. This company serves independent brokers and multiple
agents whose marketing activities are not directly managed by tecis. However,
in the 2nd quarter of 2001, tecis management started work on implementing a
concept for repositioning tecis Maklerservice AG. tecis Asset Management AG’s
market position is being strengthened with the establishment of two new mixed
fund-of-fund products.
In the first nine months, the tecis Group achieved high capital inflows of DM
500 million, well in excess of the sector average once more. Consolidated
revenues are to be increased to at least DM 255 million and net income to at
least DM 27 million by 2003.
1) including Global AG
For more information, please contact Joachim Schulz (investor relations) on
+49 40 69 69 51-741 immediately after publication of the ad-hoc release.
end of ad-hoc-announcement (c)DGAP 01.10.2001
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WKN: 621160; Index: MDAX
Listed: Amtlicher Handel in Frankfurt, Hamburg, Freiverkehr in Berlin, Bremen,
Düsseldorf, München, Stuttgart
010716 Okt 01
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